Balancing the Relationship between Aggregate Supply and Aggregate Demand to Further Smooth the National Economic Cycle

Scientific and effective macroeconomic regulation is an important safeguard for stable and healthy economic development. The Central Economic Work Conference held in December 2024 clearly stated the need to "balance the relationship between aggregate supply and aggregate demand, and smooth the national economic cycle." This is General Secretary Xi Jinping's profound grasp and scientific summary of the laws governing China's economic development in the New Era. Conducting unified planning and comprehensive arrangements for the relationship between aggregate supply and aggregate demand is not merely a top-level design for promoting annual economic work, but also a refinement of the concept of macroeconomic governance. It is of great significance for smoothing the national economic cycle with more proactive and effective macro policies and for promoting high-quality development of China's economy.

科学有效的宏观调控是经济平稳健康发展的重要保障。2024年12月召开的中央经济工作会议明确提出，“统筹好总供给和总需求的关系，畅通国民经济循环”。这是习近平总书记对新时代我国经济发展规律的深刻把握和科学概括。对总供给和总需求关系进行统一筹划、全面安排，不只是推动年度经济工作的一种顶层设计，也是宏观经济治理理念的一种升华，对于以更加积极有为的宏观政策畅通国民经济循环，推动我国经济高质量发展有重大意义。

I

一

The balance between aggregate supply and aggregate demand is a condition for the smooth progress of social reproduction. Aggregate supply refers to the total quantity of social products produced within a given period (usually one year), including both physical quantity and value aspects. Aggregate demand refers to the quantity of demand for social products formed during a given period (usually one year) for the purpose of compensating for means of production and labor power, also including both physical quantity and value aspects. The balance between aggregate supply and aggregate demand includes two aspects: first, aggregate balance, i.e., the balance of value between aggregate supply and aggregate demand; second, structural balance, i.e., the balance among social production departments expressed in physical form. Aggregate balance is a necessary condition for structural balance, and structural balance is a sufficient condition for aggregate balance. To achieve the balance between aggregate supply and aggregate demand, the classical Marxist writers proposed the solution of establishing social ownership of the means of production, eliminating commodity-money relations, and thereby allocating total social labor in a planned and proportional manner.

总供给和总需求的平衡是社会再生产顺利进行的条件。总供给是在一定时期内（通常为一年）生产的社会总产品数量(包括实物数量和价值量两个方面）；总需求是在一定时期内（通常为一年）为了补偿生产资料和劳动力而形成的对社会总产品的需求量（包括实物数量和价值量两个方面）。总供给和总需求的平衡包括两个方面，一是总量平衡，即总供给与总需求的价值量平衡；二是结构平衡，即以实物形态表现出来的社会生产部门之间的平衡。总量平衡是结构平衡的必要条件，结构平衡是总量平衡的充分条件。为了实现总供给与总需求的平衡，马克思主义经典作家给出的解决方案是建立生产资料的社会所有制，剔除商品货币关系，进而有计划、按比例分配社会总劳动。

The supply-demand mechanism, together with the price mechanism and the competition mechanism, constitutes the basic framework of the market mechanism. Supply and demand are two fundamental aspects of the internal relationships of a market economy. They are a dialectical relationship of both opposition and unity, mutually dependent and conditional on each other. Without demand, supply cannot be realized, and new demand can give rise to new supply. Without supply, demand cannot be met, and new supply can create new demand. Aggregate supply and aggregate demand are aggregate concepts formed by summing up individual supplies and demands, and they follow the common laws of supply and demand.

供求机制与价格机制、竞争机制是市场机制的基本架构。供给和需求是市场经济内在关系的两个基本方面，是既对立又统一的辩证关系，二者相互依存、互为条件。没有需求，供给就无从实现，新的需求可以催生新的供给；没有供给，需求就无法满足，新的供给可以创造新的需求。总供给和总需求是个量的供给与需求的加总以后的总量概念，遵循着供给与需求的共同规律。

Under the conditions of a socialist market economy, since the basic contradiction of a market economy—the contradiction between private labor and social labor—still exists, the balance between aggregate supply and aggregate demand is accidental and temporary, while imbalance is inevitable and normal. How to combine an effective market with a competent government and achieve stable and healthy operation of the national economy through adjustments to the relationship between aggregate supply and aggregate demand is a subject that requires in-depth exploration. Since the 18th National Congress of the CPC, General Secretary Xi Jinping has put forward a series of new theories regarding balancing the relationship between aggregate supply and aggregate demand. In particular, based on changes in the principal aspect of the contradiction in the movement of aggregate supply and aggregate demand, he creatively pointed out that although China has periodic and aggregate problems, structural problems are the most prominent. Among these, supply-side structural reform is the main line. The ultimate goal of supply-side structural reform is to meet demand, the main direction is to improve the quality of supply, and the fundamental approach is to deepen reform. At the same time, it is necessary to adhere to the strategic basis of expanding domestic demand, form a virtuous cycle of the national economy, establish an effective system for expanding domestic demand based on the actual situation of China's economic development, gradually improve the market system, perfect the market mechanism, and accelerate the construction of a unified national market.

在社会主义市场经济条件下，由于私人劳动和社会劳动这一市场经济的基本矛盾依然存在，总供给与总需求的平衡是偶然的、暂时的，而不平衡是必然的、常态的，如何把有效市场和有为政府结合起来，通过总供给和总需求关系的调整实现国民经济稳健运行、健康发展是一个需要深入探索的课题。党的十八大以来，习近平总书记围绕统筹总供给和总需求关系提出一系列新的理论，特别是根据总供给和总需求矛盾运动过程中矛盾主要方面的变化，创造性地提出我国虽然有周期性、总量性问题，但结构性问题最突出。其中，供给侧结构性改革是主线。供给侧结构性改革最终目的是满足需求，主攻方向是提高供给质量，根本途径是深化改革。与此同时，要坚持扩大内需战略基点，形成国民经济良性循环，要根据我国经济发展实际情况，建立起扩大内需的有效制度，逐步健全市场体系、完善市场机制，加快建设全国统一大市场。

II

二

To achieve the macroeconomic regulation goals of economic growth, full employment, price stability, and balance of payments equilibrium, while also promoting synchronization of residents' income growth with economic growth, it is necessary to properly handle the relationship between the short-term and long-term operation of the economy.

为了实现经济增长、充分就业、物价稳定、国际收支平衡，同时促进居民收入增长和经济增长同步的宏观调控目标，必须处理好经济运行短期与长期的关系。

On the one hand, by implementing the people-centered development thought and giving full play to the superiority of the socialist system, China's macroeconomic regulation should and can address medium- and long-term structural contradictions in economic operation, promote high-quality economic development, and better resolve the contradiction between the people's ever-growing needs for a better life and unbalanced and inadequate development. This requires strengthening supply-side management, stimulating the driving force of economic growth, improving the quality and efficiency of the supply system by optimizing factor allocation and adjusting the economic structure, and unswervingly adhering to the main line of supply-side structural reform. On the other hand, in reality, there is no method of "bypassing the short term and reaching the long term directly." Economic operation can only be the result of successive short-term periods. Against the backdrop of a complex domestic and international environment, we must face directly the various difficulties and challenges confronting China's economy, but at the same time, we cannot ignore the short-term regulatory effects of macroeconomic regulation. The successive processes of several short-term periods constitute the "long term," and each short-term fluctuation becomes a factor affecting the long-term development trend. This requires attaching great importance to the effective implementation of demand-side management policies, which aim to increase the quantity and scale of aggregate social demand and are characterized by short-term regulation.

一方面，贯彻以人民为中心的发展思想，发挥社会主义制度的优越性，我国的宏观调控应该而且能够解决好经济运行的中长期结构性矛盾，推动经济高质量发展，以更好解决人民日益增长的美好生活需要和不平衡不充分的发展之间矛盾。这就需要加强供给侧管理，激发经济增长动力，通过优化要素配置和调整经济结构来提高供给体系质量和效率，坚持推进供给侧结构性改革主线不动摇。另一方面，现实中并不存在“绕过短期，直达长期”的办法，经济运行只能是由一个又一个短期接续起来的结果。在国内外环境错综复杂的背景下，直面我国经济面临的各种困难和挑战，同时也不能忽略宏观调控的短期调控效应，若干短期的接续过程就构成了“长期”，每个短期波动都会构成影响长期发展态势的因素。这就需要高度重视以扩大社会总需求数量和规模为目标、以短期调控为主要特征的需求侧管理政策的有效实施。

Handling the relationship between the long term and the short term in macroeconomic regulation requires coordinating the relationship between advancing supply-side structural reform and implementing the strategy of expanding domestic demand. Advancing supply-side structural reform is consistent with implementing the strategy of expanding domestic demand; it is not a simple substitution relationship. From the perspective of political economy, abandoning demand-side to talk about supply-side, or abandoning supply-side to talk about demand-side, is one-sided. The two are not an either-or, one-replaces-the-other substitution relationship, but rather require mutual coordination and mutual promotion. To deepen supply-side structural reform, we must make good use of the important tool of demand-side management, organically combine the implementation of the strategy of expanding domestic demand with deepening supply-side structural reform, attach equal importance to demand-side management and supply-side reform, and form a higher-level dynamic equilibrium where demand drives supply and supply creates demand.

处理宏观调控长期与短期的关系，就要协调好推进供给侧结构性改革与实施扩大内需战略之间的关系。推进供给侧结构性改革同实施扩大内需战略是一致的，不是简单的替代关系。从政治经济学角度看，放弃需求侧谈供给侧或放弃供给侧谈需求侧都是片面的，二者不是非此即彼、一去一存的替代关系，而是要相互配合、相互推进。深化供给侧结构性改革，要用好需求侧管理这个重要工具，把实施扩大内需战略同深化供给侧结构性改革有机结合起来，坚持需求侧管理和供给侧改革并重，形成需求牵引供给、供给创造需求的更高水平的动态均衡。

III

三

The 2024 Central Economic Work Conference proposed vigorously boosting consumption, improving investment efficiency, and expanding domestic demand in all aspects. Against the current background of instability and uncertainty in the international situation, basing ourselves domestically and relying on the advantages of the domestic large market to fully tap the potential of domestic demand is conducive to defusing the impact of external shocks and declining external demand, and also conducive to ensuring the basic normal operation of China's economy and the overall stability of the broader social situation under extreme circumstances.

2024年中央经济工作会议提出，大力提振消费、提高投资效益，全方位扩大国内需求。在当前国际形势充满不稳定性不确定性的背景下，立足国内、依托国内大市场优势，充分挖掘内需潜力，有利于化解外部冲击和外需下降带来的影响，也有利于在极端情况下保证我国经济基本正常运行和社会大局总体稳定。

Accelerating the cultivation of a complete domestic demand system is an important foundation for smoothing the national economic cycle and strengthening the dominant position of the domestic cycle. The key to constructing a new development pattern lies in the unimpeded flow of the economic cycle. Economic activity is a dynamic, cyclical process of reproduction that requires the organic connection of various combinations of factors of production in the links of production, distribution, circulation, and consumption, thereby realizing cyclical flow. Under normal circumstances, if the economic cycle is smooth, material products will increase, social wealth will accumulate, people's welfare will increase, and national strength will be enhanced, thereby forming a spiraling upward development process. If the economic cycle encounters blockages or breakpoints, the cycle will be impeded, manifesting macroscopically as a decline in growth rates, increased unemployment, accumulation of risks, and imbalance of payments, and microscopically as overcapacity, declining enterprise efficiency, and reduced household income. To smooth the national economic cycle, we must adhere to a two-point theory and balance the relationship between aggregate supply and aggregate demand. On the one hand, the main task of smoothing the economic cycle is to ensure effective smoothness on the supply side, using effective supply capacity to penetrate cycle blockages, eliminate bottlenecks and constraints, create employment, and generate income, thereby forming demand capacity. Therefore, we must adhere to the main line of supply-side structural reform. On the other hand, expanding domestic demand is not a temporary measure to deal with financial risks and external shocks, nor is it about engaging in a deluge of stimulus, nor is it merely about increasing government input. Rather, it is about establishing an effective system for expanding domestic demand based on the actual situation of China's economic development, releasing the potential of domestic demand, accelerating the cultivation of a complete domestic demand system, strengthening demand-side management, expanding household consumption, raising the level of consumption, and making the establishment of a super-large domestic market a sustainable historical process.

加快培育完整的内需体系，是畅通国民经济循环、增强国内大循环主体地位的重要基础。构建新发展格局的关键在于经济循环的畅通无阻。经济活动是一个动态的周而复始的循环过程，需要各种生产要素的组合在生产、分配、流通、消费各环节有机衔接，从而实现循环流转。在正常情况下，如果经济循环畅通，物质产品会增加，社会财富会集聚，人民福祉会增加，国家实力会增强，从而形成一个螺旋式上升的发展过程。如果经济循环过程出现堵点、断点，循环就会受阻，在宏观上就会表现为增长速度下降、失业增加、风险积累、国际收支失衡等情况，在微观上就会表现为产能过剩、企业效益下降、居民收入减少等问题。要畅通国民经济循环，必须坚持两点论，统筹总供给和总需求的关系。一方面，畅通经济循环最主要的任务是供给侧有效畅通，以有效供给能力穿透循环堵点、消除瓶颈制约、创造就业和提供收入，形成需求能力。因此，必须坚持供给侧结构性改革这条主线。另一方面，扩大内需并不是应对金融风险和外部冲击的一时之策，也不是要搞大水漫灌，更不是只加大政府投入力度，而是要根据我国经济发展实际情况，建立起扩大内需的有效制度，释放内需潜力，加快培育完整的内需体系，加强需求侧管理，扩大居民消费，提升消费层次，使建立超大规模的国内市场成为一个可持续的历史过程。

Facts have proved that China still has great space for further expanding consumption demand and investment demand. In 2023, total retail sales of consumer goods exceeded 47 trillion yuan. Since 2024, with the coordinated efforts and continuous effectiveness of a series of existing and incremental policies, the consumption demand of Chinese residents has been continuously released. In the first ten months of 2024, China's total retail sales of consumer goods were close to 40 trillion yuan. Among these, in October, total retail sales of consumer goods increased by 4.8% year-on-year, 1.6 percentage points faster than the previous month, the highest single-month growth rate since March. Taking the "Two Major" (implementation of major national strategies and construction of key areas of security capacity) and the "Two New" (large-scale equipment renewal and replacement of consumer goods with new ones) as examples, the policy of replacing old consumer goods with new ones has seen the participation of over 30 million people, driving sales of over 400 billion yuan. In October, the retail sales of household appliances and audio-visual equipment, cultural and office supplies, furniture, and automobiles by enterprises above the designated size increased by 39.2%, 18%, 7.4%, and 3.7% year-on-year respectively, driving the growth of total retail sales of consumer goods by 1.2 percentage points. Driven by the large-scale equipment renewal policy, investment in the purchase of equipment and tools in the first ten months increased by 16.1% year-on-year, contributing over 60% to the growth of total investment. With the implementation and effectiveness of relevant policies and measures, the potential of China's consumption demand and investment demand will be further fully released, transforming into a powerful driving force for stable economic growth.

事实证明，我国进一步扩大消费需求、投资需求仍具有很大空间。2023年社会消费品零售总额超过47万亿元。2024年以来，随着一系列存量政策和增量政策协同发力、持续显效，我国居民消费需求持续释放。2024年前10个月，我国社会消费品零售总额接近40万亿元，其中，10月份的社会消费品零售总额同比增长4.8%，比上月加快1.6个百分点，是3月份以来单月最高增速。以“两重”（国家重大战略实施和重点领域安全能力建设）和“两新”（大规模设备更新和消费品以旧换新）为例，消费品以旧换新政策有3000多万人参与、带动销售超4000亿元。10月份限额以上单位家用电器和音像器材类、文化办公用品类、家具类、汽车类商品零售额分别同比增长39.2%、18%、7.4%、3.7%，拉动社会消费品零售总额增长1.2个百分点。在大规模设备更新政策带动下，前10个月设备工器具购置投资同比增长16.1%，对投资增长贡献率超过60%。随着相关政策措施的落地生效，我国的消费需求、投资需求潜能将得到进一步充分释放，转化为拉动经济稳定增长的澎湃动力。

IV

四

Balancing the relationship between aggregate supply and aggregate demand involves both demand management and supply management, and the mutual coordination of demand management policies and supply management policies should be ensured.

统筹总供给和总需求关系，涉及需求管理和供给管理两个方面，应做好需求管理政策和供给管理政策的相互配合。

Demand management refers to the implementation of macroeconomic regulation policies from the demand side. Demand management includes aggregate demand management and demand structure management. Among these, aggregate demand management refers to policies that increase or decrease the total quantity of demand through fiscal and monetary policies to achieve a rough balance between aggregate supply and aggregate demand. When there is aggregate imbalance, the most direct and effective method is for the government to increase or decrease the total quantity of demand through fiscal and monetary policies. In terms of fiscal policy, when aggregate demand is insufficient, the government can increase investment demand and consumption demand by reducing taxes and increasing fiscal expenditure; when aggregate demand is excessive, the opposite policies are adopted. In terms of monetary policy, the central bank increases aggregate demand by increasing the money supply. Conversely, the central bank can decrease aggregate demand by reducing the money supply. Compared with the longer transmission mechanism of monetary policy, the effect of fiscal policy is more direct and faster to take effect. Demand structure management emphasizes solving imbalance problems from the structural level to achieve aggregate balance. Its main policy is to adjust the distribution of national income to change the structure of investment demand, household consumption demand, government expenditure demand, and net export demand, thereby promoting structural balance.

需求管理即从需求侧入手实施宏观调控政策。需求管理包括需求总量管理与需求结构管理。其中，需求总量管理是指通过财政政策和货币政策增加或减少需求总量，以实现总供给和总需求大体平衡的政策。当总量失衡时，最直接有效的办法就是政府通过财政政策和货币政策来增加或减少需求总量。在财政政策方面，在总需求不足时，政府可以通过减少税收、增加财政支出等方式增加投资需求和消费需求，在总需求过剩时则采取相反的政策；在货币政策方面，中央银行通过增加货币供给来增加总需求。反之，中央银行可以减少货币供给以减少总需求。与货币政策传导机制较长的特征相比较而言，财政政策的作用更为直接，见效更快。 需求结构管理强调从结构层面解决失衡问题，进而实现总量平衡，其主要政策是通过调整国民收入的分配以改变投资需求、居民消费需求、政府支出需求和净出口需求的结构，以推动实现结构平衡。

So-called supply management refers to macroeconomic regulation policies implemented from the supply side, with supply structure management as its core. Its main characteristics are: first, it has clear targeting, focusing on adjusting supply in specific sectors. Second, its goal is not only to achieve supply-demand balance in individual sectors but also to seek long-term development for the national economy. Therefore, supply structure management is committed to eliminating backward sectors and backward production capacity, reducing corporate leverage ratios, and enhancing the market competitiveness of enterprises. Third, it focuses on solving medium- and long-term problems, emphasizing the promotion of economic structural transformation and upgrading and high-quality development. The supply-side structural reform implemented in China is a supply structure management policy. Supply structure management usually needs to be used in conjunction with demand management to play a role in maintaining macroeconomic stability and promoting high-quality economic development.

所谓供给管理就是从供给侧入手实施的宏观调控政策，核心是供给结构管理。其主要特点：一是具有明确的靶向性，着力于调整个别部门的供给。二是其目标不仅在于实现个别部门的供求平衡，而且在于为国民经济谋求长远发展。因此，供给结构管理致力于淘汰落后部门和落后产能，降低企业杠杆率，提高企业的市场竞争力。三是着眼于解决中长期问题，侧重于推动经济结构转型升级和高质量发展。我国实施的供给侧结构性改革是供给结构管理政策。供给结构管理通常要同需求管理结合在一起配合使用，才能发挥保持宏观经济的稳定，促进经济高质量发展的作用。

The 2024 Central Economic Work Conference pointed out that a more proactive fiscal policy should be implemented, including raising the fiscal deficit ratio to ensure sustained and intensified fiscal policy efforts; increasing the intensity of fiscal expenditure and strengthening guarantees for key areas; issuing more ultra-long-term special government bonds to continuously support the "Two Major" projects and the "Two New" policy implementation; increasing the issuance and use of local government special bonds and expanding the scope of investment areas and project capital; optimizing the fiscal expenditure structure, improving the efficiency of fund use, and paying more attention to benefiting people's livelihoods, promoting consumption, and enhancing future growth potential, while securing the bottom line of "Three Guarantees"[1]1 "Three Guarantees" (三保) refers to ensuring basic livelihood, ensuring the payment of salaries, and ensuring the operation of grassroots government institutions. at the grassroots level; Party and government organs must continue to tighten their belts, and so on. A moderately loose monetary policy should be implemented, giving full play to the aggregate and structural functions of monetary policy tools, timely lowering reserve requirements and interest rates, maintaining ample liquidity, and ensuring that the growth of social financing scale and money supply matches expected targets for economic growth and the general price level. When deploying key tasks, the 2024 Central Economic Work Conference particularly emphasized vigorously boosting consumption, improving investment efficiency, and expanding domestic demand in all aspects, including: implementing a special campaign to boost consumption, promoting income increase and burden reduction for low- and middle-income groups, and enhancing consumption capacity, willingness, and levels; appropriately raising basic pensions for retirees, increasing basic pensions for urban and rural residents, and raising the financial subsidy standards for urban and rural residents' medical insurance; expanding the implementation of the "Two New" policies, innovating diversified consumption scenarios, expanding service consumption, and promoting the development of cultural tourism; actively developing the debut economy, ice and snow economy, and silver economy; strengthening top-down organization and coordination, providing greater support for "Two Major" projects; moderately increasing central budgetary investment; strengthening the coordination of fiscal and financial policies, effectively driving social investment with government investment; early planning for major projects in the "15th Five-Year Plan"[2]2 The "15th Five-Year Plan" refers to the national economic and social development plan for the period 2026–2030.; vigorously implementing urban renewal; implementing a special action to reduce the logistics cost of the whole society, and so on. The implementation of these aggregate demand management policies and demand structure management policies aims to increase the quantity and expand the scale of aggregate social demand.

2024年中央经济工作会议指出，要实施更加积极的财政政策，包括提高财政赤字率，确保财政政策持续用力、更加给力；加大财政支出强度，加强重点领域保障；增加发行超长期特别国债，持续支持“两重”项目和“两新”政策实施；增加地方政府专项债券发行使用，扩大投向领域和项目资本金范围；优化财政支出结构，提高资金使用效益，更加注重惠民生、促消费、增后劲，兜牢基层“三保”底线；党政机关要坚持过紧日子，等等。实施适度宽松的货币政策，发挥好货币政策工具总量和结构双重功能，适时降准降息，保持流动性充裕，使社会融资规模、货币供应量增长同经济增长、价格总水平预期目标相匹配等。2024年中央经济工作会议在部署重点任务时，特别强调要大力提振消费、提高投资效益，全方位扩大国内需求，包括：实施提振消费专项行动，推动中低收入群体增收减负，提升消费能力、意愿和层级；适当提高退休人员基本养老金，提高城乡居民基础养老金，提高城乡居民医保财政补助标准；加力扩围实施“两新”政策，创新多元化消费场景，扩大服务消费，促进文化旅游业发展；积极发展首发经济、冰雪经济、银发经济；加强自上而下组织协调，更大力度支持“两重”项目；适度增加中央预算内投资；加强财政与金融的配合，以政府投资有效带动社会投资；及早谋划“十五五”重大项目；大力实施城市更新；实施降低全社会物流成本专项行动，等等。这些需求总量管理政策和需求结构管理政策的实施，旨在增加社会总需求数量、扩大社会总需求规模。

The 2024 Central Economic Work Conference proposed key tasks including: leading the development of new quality productive forces with technological innovation and building a modern industrial system; leveraging the traction role of economic system reform and promoting the implementation of landmark reform measures; expanding high-standard opening up, stabilizing foreign trade and foreign investment; effectively preventing and defusing risks in key areas, and firmly holding the bottom line of preventing systemic risks; coordinating the promotion of new urbanization and comprehensive rural revitalization, promoting integrated urban-rural development; intensifying the implementation of regional strategies and enhancing regional development vitality; increasing efforts to ensure and improve people's livelihoods, enhancing the people's sense of gain, happiness, and security, and so on. This is a comprehensive policy of supply structure management aimed at improving the quality of supply. It is necessary for maintaining stable economic growth, keeping employment and prices generally stable, maintaining a basic balance of payments, and is also an important measure to promote synchronous growth of residents' income and the economy.

2024年中央经济工作会议提出，要以科技创新引领新质生产力发展，建设现代化产业体系；发挥经济体制改革牵引作用，推动标志性改革举措落地见效；扩大高水平对外开放，稳外贸、稳外资；有效防范化解重点领域风险，牢牢守住不发生系统性风险底线；统筹推进新型城镇化和乡村全面振兴，促进城乡融合发展；加大区域战略实施力度，增强区域发展活力；加大保障和改善民生力度，增强人民群众获得感幸福感安全感等重点任务。这是以提升供给质量为目标的供给结构管理综合政策，是保持经济稳定增长，保持就业、物价总体稳定，保持国际收支基本平衡的需要，也是促进居民收入和经济同步增长的重要举措。

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